HONG KONG (Reuters) - China's Supreme Court and Hong Kong's Department of Justice said on Monday that they signed an arrangement on the reciprocal recognition and enforcement of judgements in civil and commercial cases effective immediately in both places.
It is unclear how the reciprocal recognition and enforcement arrangement would work in practise as there has been no previous precedent with the mainland.
Hong Kong is the only jurisdiction to have an arrangement with the mainland on reciprocal recognition and enforcement of judgements with such a wide coverage, it said.
Justice Secretary Paul Lam said that the new civil and commercial arrangement showcased the unique advantages enjoyed by Hong Kong under the "one country, two systems" formula that the city is governed under.
"This will be conducive to enhancing Hong Kong's status as an international legal and dispute resolution services centre.
Persons:
Hong, Jimmy Lai, Paul Lam, Lam, Farah Master, Tom Hogue, Michael Perry
Organizations:
Reuters, Hong Kong's Department of Justice, Hong, European Union
Locations:
HONG KONG, Hong Kong, Beijing, China, U.S, Britain, Canada, Australia